"It is now over a decade since the idea of a New International Economic Order (NIEO) has been proposed and gained considerable recognition in the international community. It was an idea which in all its dimensions, embody prescriptions for the various ailments of the world economy as well as providing genuine basis for its future consolidation and development. However despite the general recognition of the need for the restructuring of the world economy in view of its continuous deterioration and the aggravation of poverty in the developing countries, little progress has been made in the implementation of the proposals of the NIEO."